Insomnia is a common sleep disorder that affects a large population worldwide. Factors such as a growing geriatric population, increasing stress levels, and rising awareness about different treatment options are expected to boost the insomnia therapy market. The development of new technologies and medical devices is anticipated to drive market growth.

Although only a few medical devices have been approved in recent years, such as EBB Insomnia Therapy, Fisher Wallace Stimulator, and Alpha-Stim AID, their adoption is expected to increase due to the combination of device-drug therapies for treating insomnia.

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The demand for products for the treatment of sleep disorders is expected to increase with the penetration of new medications and devices. Patients who have been treated with pharmaceuticals and remain dissatisfied with the results have reported better outcomes with devices or a combination of drugs and devices. Positive results portrayed through the combination of devices and drugs are expected to drive revenue growth of the insomnia therapy market over the forecast period.

The global insomnia therapy market is segmented into two categories: drugs and devices. The drugs segment dominates the market and accounted for nearly 99% of the total revenue in 2019. This segment comprises patented and generic drugs, with patented drugs accounting for the largest share in developed regions. Generics and branded generics accounted for the largest revenue in developing and underdeveloped regions. Zolpidem is the most widely used insomnia treatment drug, comprising nearly 70% of the total insomnia treatment drugs due to its effectiveness and easy availability.

The prescription segment accounted for the largest share of over 79.2% of the total market revenue in 2019, and it is expected to maintain its dominance throughout the forecast period. Over-the-counter (OTC) therapeutics comprise active ingredients such as melatonin, diphenhydramine, and tryptophan, and sales of these drugs are expected to grow due to the emergence of newer therapeutics with lesser adverse effects.

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North America leads the insomnia therapy market, accounting for 54% of the total revenue share in 2019. The high prevalence of sleep disorders in the U.S. and Canada, along with an increase in awareness and high healthcare spending, is expected to drive the market. Moreover, the high prevalence of this disease among the geriatric population and the rapidly growing geriatric population in the U.S. are expected to be the key driving factors promoting demand. Asia Pacific accounted for 20.9% of the total market revenue in 2019, with Japan contributing significantly to the market due to the high prevalence of target disease.

Key market participants include Takeda Pharmaceutical Company Ltd., Vanda Pharmaceuticals, Merck & Co., Inc., Pfizer Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Sumitomo Dainippon Pharma Co., Ltd, Sanofi, Paratek Pharmaceuticals Inc., and Ebb Therapeutics. The report forecasts revenue growth at global, regional, and country levels and provides an analysis of industry trends in each of the sub-segments from 2017 to 2027. The global insomnia therapy market is segmented based on treatment types, sales channel, and region. The drugs segment is further divided into benzodiazepines, nonbenzodiazepines, antidepressants, orexin antagonists, melatonin antagonists, and others, while the medical devices segment includes various devices for treating insomnia.

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